Titan Mining Secures Up to $120 Million for Graphite Venture
Titan Mining's Financial Advancements for Graphite Project
Titan Mining Corporation (TSX: TI, OTCQB: TIMCF) has made headlines with its recent collaboration with the Export-Import Bank of the United States (EXIM). The bank expressed interest in providing financing of up to US$120 million for Titan's Kilbourne Graphite Project. This initiative is part of EXIM's broader "Make More in America" (MMIA) program aimed at boosting domestic manufacturing capabilities.
Strategic Collaborations with U.S. Agencies
In addition to this funding prospect, Titan is working closely with various U.S. government entities, including the Departments of War and Energy, to explore strategic funding opportunities. These initiatives will not only support the construction of the Kilbourne Project but also enhance the domestic production of critical minerals, aligning with national interests.
Financing Details and Implications
If the financing is finalized, it could cover a significant portion of the costs associated with the Kilbourne Project. This would lead to a more capital-efficient development path, leveraging the company's existing operations and cash flows from its Empire State Mines zinc operations. The financial strategy remains focused on maximizing shareholder value.
Strategic Importance of the Kilbourne Graphite Project
The Kilbourne Project is recognized by EXIM as a key asset critical to U.S. national priorities. It is projected to create high-quality jobs while strengthening the resilience of U.S. supply chains. The construction plans include a 40,000-tonne-per-year facility dedicated to commercial production of natural flake graphite.
Loan Terms and Project Impact
Under the proposed terms, EXIM would consider offering a direct loan of up to US$120 million, with anticipated repayment over approximately 12 years. This arrangement may include an interest-only period and will prioritize a thorough due diligence process before final approval is granted.
Leadership Insights
Rita Adiani, President & CEO of Titan Mining, expressed pride in the ongoing partnership with EXIM, emphasizing the importance of the Kilbourne Graphite Project for job creation and competitive mineral supply chains. Her comments underscore Titan's commitment to operational excellence and responsible capital management.
Status of the Project and Future Prospects
Titan has a history of successful collaborations with federal agencies, having previously received EXIM support for expanding its zinc operations. The Letter of Interest from EXIM, while non-binding, signals a strong intent to assist in financing as Titan moves forward with its due diligence and project planning efforts over the coming months.
About Titan Mining Corporation
Titan Mining is a proud Augusta Group company dedicated to producing zinc concentrate at its fully owned Empire State Mine in New York. The corporation is evolving as a notable player in the flake graphite sector, aiming to be the nation's first end-to-end producer of natural flake graphite in nearly seven decades. With a strong focus on enhancing the domestic supply chain for critical minerals, Titan is poised to deliver significant value to its shareholders through active operational and exploratory efforts.
Contact Information
For further inquiries regarding Titan Mining, you can reach out to: Irina Kuznetsova
Director, Investor Relations
Phone: (778) 870-7735
Email: info@titanminingcorp.com
Frequently Asked Questions
What is the Kilbourne Graphite Project?
The Kilbourne Graphite Project is an initiative by Titan Mining aimed at producing natural flake graphite in the U.S. to help meet growing demand.
How much financing is Titan Mining seeking?
Titan is seeking up to US$120 million in financing from the Export-Import Bank of the United States to support the Kilbourne Graphite Project.
What role does EXIM play in this financing?
The Export-Import Bank of the United States (EXIM) provides financing options to support U.S. companies like Titan in their efforts to enhance domestic production capabilities.
How will this project benefit U.S. jobs and supply chains?
The Kilbourne Graphite Project is expected to create high-quality jobs and strengthen the supply chain for critical minerals within the U.S., bolstering national interests.
Who can be contacted for more information about Titan Mining?
Irina Kuznetsova, Director of Investor Relations, is available for any inquiries related to Titan Mining Corporation.
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